NYC board approves rent hikes - Fox 2 News Headlines

NYC board approves rent hikes

Posted: Updated:
MYFOXNY.COM -

The New York City Rent Guidelines Board has approved rent increases for more than 1 million rent-stabilized apartments in the five boroughs.

The board passed a 4-percent increase for a one-year renewal lease. The rent will go up 7.75 percent on a two-year renewal lease.

The increases apply to lease renewals that commence on or after October 1, 2013, and on or before September 30, 2014.

Every year, the vote angers many, and no one walks away happy.

Renters say anything but a token increase would be too much, while landlords say the hikes are never enough to cover their rising costs.

The Rent Stabilization Association, a group that represents thousands of landlords, had called for a much larger hike, citing higher property taxes and rising water, sewer, and maintenance costs.

Meantime, groups that advocate on behalf of tenants have said that any increase can be devastating to New Yorkers who already have trouble making ends meet.

  • Local NewsLocal NewsMore>>

  • Man to face murder charges in mother's slaying

    Man to face murder charges in mother's slaying

    Monday, September 1 2014 3:08 PM EDT2014-09-01 19:08:57 GMT
    Murder charges are pending against a northern New Jersey man who allegedly stabbed and beat his mother to death.
    Murder charges are pending against a northern New Jersey man who allegedly stabbed and beat his mother to death.
  • Homeowner interrupting burglary is fatally stabbed

    Homeowner interrupting burglary is fatally stabbed

    Monday, September 1 2014 2:35 PM EDT2014-09-01 18:35:46 GMT
    A 67-year-old homeowner was stabbed to death and his wife injured after they came upon a burglary at their Staten Island home.
    Police in New York City say an intruder stabbed a couple who interrupted a burglary at their home, killing the man and injuring his wife.
  • New MTA bus routes take effect

    New MTA bus routes take effect

    Monday, September 1 2014 1:09 PM EDT2014-09-01 17:09:54 GMT
    MTAMTA
    The MTA has new bus routes throughout the 5 boroughs. 
    The MTA has new bus routes throughout the 5 boroughs. 
Powered by WorldNow

WJBK-TV | Fox 2
16550 West Nine Mile Rd.
Southfield, MI 48075

Main Station: (248) 557-2000
Newsroom: (248) 552-5103

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices